U.S. Hotel Market Posts Positive Results in August

U.S. Hotel Market Posts Positive Results in August

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | September 8, 2010 1:00 PM ET

(MIAMI, FL) -- According to the latest industry report from Smith Travel Research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the last week August 2010.

In year-over-year measurements, the industry's occupancy increased 10.6 percent to 60.1 percent. Average daily rate rose 2.4 percent to US$96.50. Revenue per available room increased 13.2 percent to US$57.98.

Among the Top 25 Markets, New Orleans, Louisiana, experienced the largest occupancy increase, rising 36.1 percent to 47.5 percent. Four other markets also reported occupancy increases of more than 20 percent: Detroit, Michigan (+28.6 percent to 62.5 percent); Washington, D.C. (+26.2 percent to 73.9 percent); Atlanta, Georgia (+23.2 percent to 55.0 percent); and Orlando, Florida (+21.2 percent to 51.0 percent). St. Louis, Missouri-Illinois, was the only market to post an occupancy decrease, falling 4.2 percent to 53.5 percent.

Orlando achieved the highest ADR increase, rising 13.7 percent to US$79.36, followed by Denver, Colorado, with a 10.1-percent increase to US$100.38. Dallas, Texas, fell 5.9 percent in ADR to US$81.40, reporting the largest decrease in that metric.

New Orleans posted the largest RevPAR increase, rising 43.0 percent to US$40.90, followed by Orlando (+37.9 percent to US$40.45) and Washington, D.C. (+34.8 percent to US$94.34). Three of the Top 25 Markets reported RevPAR decreases: St. Louis (-8.2 percent to US$43.27); Dallas (-5.3 percent to US$41.13); and Phoenix, Arizona (-1.3 percent to US$30.75).

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